Nisshin Kaiun’s ongoing fire sale continues. This time the privately owned Japanese shipping mammoth is attempting to sell its oldest cape, an eight-year-old cape Tsuneishi Cebu build vessel named Cologny.
Brokers are watching the sale closely as the first weeks of the year have showed a softening in vessel values amid a weaker than expected freight rate environment.
The 45 m wide ship is currently moored at Huadong Shipyard where it was available for inspection on Friday. Splash understands that the 292 m long bulker could fetch around $28m. Last year the diverse player sold five elderly capes leaving the outfit with 13 capes with a fleet average of only five years. Nissen Kaiun is listed with 63 bulkers in VesselsValue’s database.